TLDR Breakdown
- IBM has developed a blockchain network for the fashion industry in partnership with KAYA&KATO.
- The network is expected to ensure traceability for clothing materials.
IBM brings blockchain to the fashion industry
With support from the German Federal Ministry for Economic Development (BMZ), IBM has launched a blockchain network to enhance transparency in the fashion industry. The reported network was developed in partnership with KAYA&KATO, the textile manufacturing company. The development comes at a time where customers are increasingly demanding to know about the environmental impact of the products they purchase.
Blockchain for clothing
According to the information on Monday, the network is intended to prove that certain clothes are sustainably produced. The network will enable consumers to learn about the garments they wear, from the raw material used in the production to its completion. In addition to ensuring transparency, the development is expected to provide a trusted protocol for consumers to trace the ecological of their clothing materials.
The technology holds great potential for the fashion industry. A survey conducted by IBM showed that many consumers are concerned about the sustainability of the products they purchase. More than half of the respondents said they are ready to adjust their purchasing habits in order to reduce wastes in the industry. In a separate survey, the majority of the respondents pledged to purchase more garments, provided that their sustainability claims can be proven with technology.
This becomes easier and trustable with blockchain, as data mapped on the technology can not be tampered with.
Blockchain adoption in global industries
Blockchain has become an important technology for several sectors in bolstering transparency. Recently, Cryptopolitan reported that Rolar de Coyu, an olive oil producing company in Argentina, adopted the technology to improve the transparency of its products, from the cultivation of the seed to the final stage of the product. In May, a Canadian giant berry farm partnered with IBM blockchain to improve the product supply chain.
